Tata Consultancy Services, the $73 billion IT group, is India's biggest company by market value and four times the size of any other listed Tata entity
Tata Steel's June quarter profit has slowed down on higher input cost.
Nifty50's earnings growth, estimated at 20 per cent by global research and brokerage firm Jefferies for financial year 2023-24 (FY24), will be amongst the top three in the Asian region, and is likely to outperform peers. Asean 40 index with 29.1 per cent estimated earnings growth and Straits Times Index (STI) with 29.1 per cent estimated earnings growth are the only two other indices in the Asian region that are likely to outperform India, suggests the recent Jefferies report, coauthored by Mahesh Nandurkar, their managing director along with Abhinav Sinha and Nishant Poddar.
Tata Motors, Titan Company & Tata Steel come in at second, third & fourth slots.
Infosys on Thursday posted a 7.8 per cent year-on-year rise in consolidated net profit at Rs 6,128 crore in March quarter of FY23, and gave 4-7 per cent revenue growth forecast for FY24 amid macro economic uncertainities. The net profit (after minority interest) stood at Rs 5,686 crore in the fourth quarter of FY22. Seen sequentially, the net profit for Q4 came in 7 per cent lower.
At a time when exchange-traded funds (ETFs) were unloading Jio Financial Services from their portfolios, some active fund managers were placing large bets on the demerged financial services arm of Reliance Industries Ltd (RIL), a report by Nuvama Alternative & Quantitative Research shows. Motilal Oswal Mutual Fund and Quant Mutual Fund were the top MF buyers of the stock in August. They bought around 60 million shares each, together investing around Rs 2,800 crore.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
The joint venture will look at long-term, patient investments on solutions that don't lend to an IPO or exit on valuation basis.
With companies like Google, Amazon and Facebook having their offices world over, science and engineering professionals working in data centres are key assets for a country's economic stability and security. Focused programmes and adequate attention to traditional educational programmes will help build a pool of skilled people.
State Bank of India partnered GE Capital in 1998 for its credit card business.
Prime Minister Narendra Modi on Wednesday said the world looks at India as an important pillar of stability, a trusted friend, an engine of growth in the global economy, a technology hub for finding solutions and a powerhouse of talented youth. He also said that in the rapidly changing world order, India is moving forward as 'vishwa mitra' (friend of the world). Speaking at the inauguration of the 10th edition of the Vibrant Gujarat Global Summit, which saw participation of state hea
Tata Sons said dividend from 40-odd Tata Group firms had declined during Mistry's tenure while expenses had risen
Ask rediffGURU Ulhas Joshi your mutual fund queries.
'I found it unbelievable that L&T said 45,000 jobs were waiting to be filled because of unavailability of suitable skillsets.' 'So, when the Opposition sweepingly says there are no jobs, I'm sorry... I'm not saying it's raining jobs, but there are jobs. The (skill) gap has to be bridged.'
Among the Sensex firms, Bajaj Finance emerged as the biggest gainer by climbing 2.95 per cent. Tata Motors, Bajaj Finserv, IndusInd Bank, Sun Pharma, Mahindra & Mahindra, State Bank of India, Larsen & Toubro, HDFC, HDFC Bank, Maruti, Reliance Industries and Bharti Airtel were the other major winners. HCL Technologies, Axis Bank, ICICI Bank, Tech Mahindra and Titan were among the laggards.
R Venkataramanan, the managing trustee of the Sir Dorabji Tata Trust who is responsible for all Tata-run trusts, prefers to keep a low profile but has emerged as a power centre in the group - with more clout than many established CEOs, says Dev Chatterjee.
Analysts sceptical whether company will sustain rise in operating profits.
The Tata empire turns 150 this year. R Gopalakrishnan, former director, Tata Sons Ltd, imagines a conversation among the group's founder Jamsetji, his son Dorabji, his successor, Nowroji Saklatwala, and his successor, J R D Tata.
The issue will now have to be resolved through arbitration.
At least 23 people were killed and dozens injured as tornado and strong thunderstorms swept across Mississippi, United States, late on Friday, leaving a trail of damage for over 100 miles.
About time the Tata companies that are owned by the public are freed from the clutches of Tata Sons, says Sudhir Bisht.
India Ratings expects long products demand growth to be sharp, supported by a demand push from the government-led infrastructure investments in affordable housing, railways, rural electrification and road networks.
Prayas Jain has been arrested for allegedly buying secret documents.
Leading property developers, such as Oberoi Realty, Tata Realty and Infrastructure, and Hiranandani, have turned to redevelopment of existing buildings in the expensive parts of Mumbai as a way of augmenting revenue. Experts estimate that Mumbai's redevelopment projects could be worth Rs 30,000 crore. As such, they are not new. What is new is that the big developers are interested in them. Leading the race is Oberoi Realty, which has set up a separate team for these projects.
UK's largest union Unite warned Tata against ducking its promises and conducting a 'fire sale' of its specialty steel business
While admitting that $12-billion deal to acquire the Anglo-Dutch steel maker Corus was 'expensive', Tata, however, said he was hopeful of a turnaround by the struggling European steel giant.
The British pound was down nearly 9 per cent in early morning trade.
Have conviction in your bets and use stop-loss as a defence mechanism to curtail losses.
The country's largest software exporter TCS on Wednesday reported a 16.83 per cent jump in its June quarter consolidated net profit to Rs 11,074 crore. The Tata Group company had reported a net profit of Rs 9,478 crore in the year-ago period and Rs 11,392 crore in the preceding quarter. Its revenue from operations increased 12.55 per cent on a year-on-year basis to Rs 59,381 crore and was marginally up from the preceding March quarter's Rs 59,162 crore.
'Every time a new tech comes in, there are a set of people who will predict that this will be the end of Indian IT and every time the Indian IT industry and overall technology providers have proven to be resilient.'
The deal between Bharti group and Tata Teleservices is yet another example of how swiftly things can change in business.
The government in January restarted the divestment process of Air India and invited bids for selling 100 per cent of its equity in the state-owned airline, including Air India's 100 per cent shareholding in AI Express Limited and 50 per cent in Air India SATS Airport Services Private Ltd.
This is largely on the back of Tata Steel's expansion at Kalinganagar, as well as JLR's in China and Brazil
'A key reason for the strong interest in IPOs has been an increased focus on profitability and reasonable pricing of deals.'
Other losers included HCL Tech, Yes Bank, IndusInd Bank, TCS, ONGC, Bajaj Finance, PowerGrid, Vedanta, Asian Paints, NTPC and Hero MotoCorp, which shed up to 4.07 per cent.
'The business continuity clause will mean the Tatas will have to keep running the airline for three years, and cannot exit the flying business.'
Corporate India is busy restructuring - through mergers, demergers and splits. That seems to be the new normal as CXOs and boards brainstorm on how to create assets and value. The pitch rose significantly during the third quarter of this financial year (FY24), translating into $32.9-billion worth of such deals - the highest quarterly total since the HDFC Bank-HDFC merger announced in FY22 Q2.
With a common account number, you can use the MF Utilities platform to invest in any fund house's scheme.
Those involved in the discussions say the guidelines for selection of bidders in insolvency cases need to be transparent, otherwise anyone who loses out could take legal recourse, leading to wastage of time and derailing the whole process.
